In nowadays globalization situation more and more money is being transferred internationally. Such international transfers can cost around 5% of the transferred amount and it can take several days for the money to arrive at the destination, which is cumbersome for international deals. Bitcoin is a decentralized cryptocurrency, which can theoretically solve these problems. Transfer of bitcoin is done exclusively through internet at a very low cost (less than 1% of the amount) and takes only 5 – 30 min per transaction. In this thesis feasibility of using a bitcoin based payment system is being addressed. Analysis of the potential gains together with the implementation cost calculations are provided for implementing such payment system for a telecommunication company SIA Telia Latvija. The results of analysis suggest that such payment system would be beneficial for attracting international customers and would positively influence the development of the company. The economical calculations show that gains from the system would cover the implementation costs in less than five years. This work consists of 60 pages, it contains 11 figures and 4 tables, and in total 55 references were used.